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to president obama's budget and take a look at this statistic. 86% of tax increases will fall on people making $200,000 a year or more in 2015. this according to the new study by the tax policy center. what to make of this? joining us is the senior political analyst for the washington examiner. michael, good to see you. i'm more interested in the fact that earners nearly every income level will bear some sort of tax increase in this which flies in the face behalf president obama promised years ago. >> when president obama was running for his first term, he said he wasn't going to raise taxes on ordinary people. that's actually been violated in a number of ways, including in the obama care law and early increase in the cigarette tax that tends to hit down scale people more often than it hits upscale people. but in the second term, he's putting in his budget these proposals to change, as i understand it, the c.p.i. that means that your bracket increases will go into effect earlier. people will be thrust into higher tax brackets and so-called buffett tax which amounts to a sort of revival of the
showed surprising resilience dealing with the payroll tax cut exploration and with the first quarter spending close to what it was fourth quarter. so not a real hit and a decline in gasoline prices will give a consumer and nice boost in to the second quarter summer driving season. even in the short term to avoid getting overly pessimistic. connell: thank you very much dagen: she is trying to get us excited about gas that is $3.51 nationwide. [laughter] the frantic search for survivors has a massive explosion at a fertilizer plant levels homes and businesses across a small texas town. connell: carnival invest hundreds of millions of upgrades but now another one of the ships briefly losing power at sea, believe it or not. now look at the price of oil today below $87. ♪ ♪ [ male announcer ] this is karen and jeremiah they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, the
, by the way, talk of an online sales tax. harry reid is suggesting there's a vote on an online sales tax next week. ebay's way down on that. it's own growth forecast as well as the interpret sales tax possibility. ibay's down three bucks, what do you have to add on that? >> i have to add the european story that the chief financial officer of ebay saying the european economy is weaker, weaker british pounds to dense paypal results. put that together, it's a loser. >> it is, big stock, big drop. thanks nicole. to hoyer, the to littization of the boston bombing linking them to the sequester cuts. here's a question a fox news producer asked mr. hoyer. i'm quoting directly. do you think this can help to make an argument to turn off the sequester? here's the congressman's response, well, i think there are compelling arguments to not have turned on the sequester and multiple reasons for investing in our security and don't pursue across the board irrational cutting priorities and buy the same percentage. i think this is another proof of that. if proof is needed, which i don't think, frankly, it is. t
a pre-tax profit margin of 17. %, she said she would revisit those goals for the pretax profit margins for that unit in mid year once, again, the final acquisition or the last leg of that brokerage unit has been completed. the year over year decline in fixed income commodities and currency trading was down 42%. she said it was due to the very strong first quarter of 2012. that was due to some hejs that had helped put on for its clients. however, she did note on a quarter over quarter basis trading was up. retail activity among the brokerage clients was strong in january and february. it did taper off a little bit in march on concerns about some of the issues we saw. cyprus the big run-up in the market, et cetera. april got off to a slightly stronger start as well. she said ceo confidence when it comes to m and a, she said right now ceos are looking out to the second half of the year. there is concerns about the profit outlook there and that's holding them back a little bit. debt and equity underwriting remain strong. >> thank you, mary. a lot of information you had from that conversati
going forward. noticing that the effective tax rate that google's reporting is actually 8%. that compares with 18%, both last quarter and in the same quarter a year ago. so you've got to wonder how much that low tax rate affected their profitability and eps in that quarter. >> indeed. all right, thank you, all. an important earnings report period just now and wouldn't you know, it's the fast food company that is the only one that beat on the top line, of all three. and it's up 7.5% right now. thank you. >>> coming up, just three days of the tax deadline comes news of a b involving current and former irsit uil you hea wh they did, michelle. >> oh, i'll be shocked. >>> also, we're going to speak exclusively to bb&t ceo about his company's earnings and his bank's trouble with stress tests. >> that and much more coming up on the "closing bell." you are watching cnbc, first in business worldwide. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who'
at $400 a share. it's got more than $100 net cash even after paying taxes, so you're paying $3,000, any earnings down 25% from what's expected. he put a ten p-e on that and this is a very cheap stock unless you believe that earnings will decline every year from here on out. that's ahead of the case and we're not buying ahead of it because we like the position that we have, you know, but we think it's an exceptionally cheap stock at this level. >> it will be one of the most-watched numbers of the quarter. thanks so much. >> thank you. >> switching gears, they were grossly negligent in the lead up to the brokerage firm's collapse. kayla tausche has more on this story which she's been following from its earlier days. >> it seems like it's been forever, david. we're getting a 61-page lawsuit from the bankruptcy court in manhattan. it takes aim at john corzine and the coo and cfo breaching fiduciary duty as it entered a downward spiral in 2011. it seeks an unspecified amount in damages. trustees won approval for a liquidation plan. in a statement, trustee louis freeh says attempts at med med
for people who don't have insurance under the new federal health care law. it will come during tax time. there was a wrinkle discovered in the new health care law involving the irs and you. the man who oversees the irs says the agency needs to do a better job getting the word out. the law is known as the affordable care act. few people outside lawyers and accountants' offices know that it will penalize many people who do not have health insurance by docking their tax refunds. and that, says the man who oversees the irs, presents a problem because he says the agency has not publicized this penalty as much as it should. >> many americans do not realize the extend that the internal revenue service will be involved in the implementation of the affordable care act. >> the irs would not comment on its inspector general's criticisms but it is already getting ready to play enforcer in this new law. just last week, president obama has asked congress for $440 million to help the irs get ready to oversee this part of the health care law. >>> coming up tonight, nbc bay area investigative reporter s
. >> yeah, it has, which is good because that may counteract the effects of the payroll tax high. what about gold? let's check the commodities like gold, the ten-year. down about 7%. 7 bucks to $1414. there's been a bit of a move in sort of the euro. we want to keep an eye on that. there's your currency chart here in the ten-year treasury note. we talk about home sales. you always want to watch the ten-year treasury note. the yield right now is at 1 o.66. in corporate news this morning, japan says final permission to resume flights on boeing's dreamliner, it may come as early as thursday. that's earlier than expected. yesterday, boeing's engineers began install b reinforced lithium ion batteries on all nippon airways jets. some investment banks that have been looking to sell businesses with liquid assets in order to appease regulators and bolster balance sheets. credit suisse cited the rule last summer as a reason for exploring that sale. also, a u.s. trade panel has ruled apple didn't violate a google patent to make the iphone. if it had been found guilty, the tech giant's popular devices c
of people who moved from senator baucus' office to k street. at least 2 aides since 2001 have lobbied on tax issues during the obama administration more than any other current member of purpose. the reason is twofold. one is that senator baucus is the chair of the finance committee, arguably the most powerful committee in the senate. the finance committee, quote, helps dictate how the government raises almost all of its money and spends nearly half of it. the other quality that makes max baucus such a ripe target for lobbying and people with an in to him so valuable is he is not an idealogue. say what you want he is in the center kind of. there is a tool political scientists use to score where lawmakers land on the left/right spectrum. with senators ranked in the 112 itth congress with number one being most liberal baucus landed at 45. only a handful of democrats ranked more conservative. here is max baucus occupying the lonelily and quickly evaporating center of american politics we all pine for, the center we all lament the vanishing of. the problem we all say in washington is we have thes
country as a person who will. third, undocumented workers to pay taxes and contribute to the labor needs should be given a vehicle to earn a labor status. we currently have a broken immigration system and that is why the american health care physician has crafted basic principles of what comprehensive immigratiorerm ould ide ilevs still reviewing senate bill 744, i believe it captures most of the needs of immigration reform. in conclusion, the labor shortages are most pressing. act now tors must expand through pools of stock. i urge you to take a look at this and think about the frail and elderly population that we serve. parents, grandparents, aunts, uncles, and doors. those special people that if given some much to us and to our country. we owe it to them to provide the best possible care, don't we? i am here to ask you who will care for them if this critical situation is not taking care of immediately. thank you. i am happy to answer any questions. >> thank you, mr. benjamin and think you to all the witnesses. mr. smith, despite the fact haoverall undocumented immigratn has gone down,
,000. taxes, $5800. three bedroom, two and a half bath. 1700 square feet, built in 1980. tell me more. >> yes. that's in the exciting penthouse square pens landing area just off society hill. that is a move up buyer or possibly two working professionals who plan on having a family shortly. it has a garage. fantastic master suite with a roof deck, city view, river view. a great area for joggers and bikers. there are restaurants. >> and it has a garage. that makes it very valuable in that area. now to our power house of the week. the kwint sential home. the list price 1 million $850,000. taxes just under $11,000. five bedrooms, 3.5 baths. historic property. built in 1794. >> when you think of philadelphia, this is philadelphia. pine floors. moldings. restored to perfection. 19 feet wide. fantastic garden. this is a corporate relo. a suburban person who raised their family and moving in with maybe older children. this is six fireplaces. it's exactly what philadelphia represents. >> are you seeing some bidding wars on some of the houses? >> we're seeing a tremendous amount of bidding wars primari
. you've heard that the first quarter was tough. probably payroll tax impacted more than anything else. and small business is -- and big business for that matter is totally the flux with the obama care act and what it all means. and business is looking at part-time, that you've got to keep people under 30 hours. they don't want to employ more than 50 people. and nobody really knows how this thing is going to work. now, as far as the japanese yen, every major manufacturer in the world has made a strategic decision to produce where they sell. no manufacturer can deal with the volatility in exchange rates. and if you look at where the japanese are today compared to 10, 20 years ago, there is no comparison with let's say 80% produced in north america. so the exchange rate has been dramatically reduced as a factor in our business. and at the moment, i don't see any impact. >> okay, mike, $42. we've been friends a long time. you couldn't tell me at four bucks that that was something i should -- actually, we're not allowed to do it, anyway, but you couldn't have mentioned that back in 2008 or
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be another one of those. but you have had the payroll tax increase go into effect. you've had sequestration go into effect. you have no growth in people's incomes. that was the more disappointing numbers out of the last unemployment insurance report. and if people don't have money, they can't spend money. and finally, we're being affected in the slowdown in europe in particular and the slowdown in the emerging markets. our export growth has fallen to about zero at the moment because there isn't demand overseas for our products. so it feels like a little bit of a soft spot, but we'll see. >> how much of this is consumer confidence, do you think? >> consumer confidence definitely plays a role. but consumers right now don't have the money to spend. and if they went out and spent, they'd be borrowing money. i don't think -- i think it's a more fundamental problem in a way than consumer confidence. >> steve, my long wait yesterday trying to get up to new york, in the lounge was tim geithner waiting for the flight, as well. i asked him, we're seeing these good signs in the economy, how much of it
electronically that i haven't been up front with my taxes. this would prevent d.h.s. from say sharing that information with guest: the private companies in sharing information, the biggest concern is -- individuals are concerned that their private information within the cyber networks orson dems would be held -- or systems would be held by private companies but then provided to the government , that this private information would not be stripped by the companies first. in the president's executive order, the onus would be on the privacy advocates. they want the private companies to strip any private information that might be caught up within the context of cyber threat information. thet one has to understand definition of cyber threat. it is unlikely but not impossible that your private tax information, your e-mail content would be part of that information that is a cyber threat information that would be given to the government. is there a possibility that it would be lumped in with that? yes. so whose responsibility is it to minimize and get rid of your private information? the bill
overwhelmingly to take up a bill that could impose sales tax on all internet sales. today's vote clears the way for debate and attempts later this week. it would then go to the house of representatives. the bill would exempt online retailers with less than a million a year in sales. >>> protesters in san francisco used the annual environmental event as a call to arms. [ drums beating ] >> at the epa's regional headquarters, a diversion crowd of demonstrators spoke out against a variety of problems. they criticized the investigation into last summer's richmond refinery fire and also protested against hydraulic fracking for natural gas. >> we're here to ask the epa to stop the expansion of the toxic wasteland filling our town. >> these people are really frustrated. many of them low-income minority folks from the bay area that feel like there's too much pollution in the neighborhoods. >> the protesters then marched to the state department offices where they stepped up their protests to civil disobedience. the epa administrator said 40 years after the first earth day, the planet is still hurting,
of the payroll tax cut, $80 per month as significant for most families. ghost was groceries, rent, gasoline. grant of lawful status further increases the influx of illegal immigrants. further forcing out low skilled the wage the pressing and employment levels of those americans. leadsition to that, that to more americans depending on the government. that the for the federal government, due deliberation be given to the effect of that grant on the wage and employment levels of low skilled americans because the evidence before the commission is that grant of said status is not without substantial cost to the american worker. thank you. >> as of all witnesses, a full statement will remain part of the record. the president of the american action forum. good to have the year. please go ahead. >> thank you chairman. it is a privilege to be here today i submitted a written statement for the record. let me briefly make three points. the immigration reform bill before you as many aspects. there are important security considerations, economic impact, legal issues but at its core, immigration reform re
Search Results 0 to 16 of about 17